As the federal government resolves unfinished business from the former Coalition government’s Modern Manufacturing Initiative, industry minister Ed Husic has announced the board for its MMI replacement, the $15 billion National Reconstruction Fund.
Industry and science minister Ed Husic said the appointments signal “the ball is now rolling” for the fund, adding the board’s knowledge and experience would provide the “high-calibre stewardship an investment of this size and importance demands” while spaning the fund’s seven priority areas:
- Renewables and low emissions technologies;
- Medical science;
- Transport;
- Value-add in the agriculture, forestry and fisheries sectors;
- Value-add in resources;
- Defence capability; and
- Enabling capabilities.
“The Board’s collective experience brings to bear the independence and industry experience that taxpayers, project proponents and co-investors expect of this critical national project.
“This is a Board of diverse perspectives, united in the NRF’s purpose to invest in world-class Australian know-how to rebuild our industrial capabilities,” Husic said.
Board Members
Martijn Wilder (chair) has more than 20 years’ experience as a leader in sustainable finance and climate change policy. He is the founder and CEO of Pollination and has previously held numerous high-profile positions including Australian Renewable Energy Agency chair, founding director of the Clean Energy Finance Corporation, director of the Climate Council, chair and governing board member of Renewable Energy and Energy Efficiency Partnership and chair of Low Carbon Australia.
Ahmed Fahour is currently chair of Invest Victoria. Throughout his 30-year career, he has served in senior executive and board roles across banking and financial services, management consulting and postal services, including as CEO and MD of Australia Post, Latitude Financial, NAB Australia and Citigroup Alternative Investments. Fahour has also supported and served on the board of not for profit and community organisations.
Dr Katharine Giles is the current CEO and MD of OncoRes Medical, a growth stage medical device development and manufacturing company located in Western Australia. She is also a venture partner at Brandon Capital Partners, a non-executive director of Sonic Healthcare and a member of the Curtin University Commercialisation Advisory Board.
Kelly O’Dwyer is currently a non-executive director of Barrenjoey, Equity Trustees, and HMC Capital. She was a member of the Australian Parliament for over nine years and held senior economic portfolios including Minister for Jobs and Industrial Relations and Minister for Revenue and Financial Services.
Daniel Petre is a technology industry executive, entrepreneur, and venture capitalist with a broad range of non-executive director experience. He is a co-founder and partner emeritus of AirTree, the chair of Vera Living, and a director of MetaOptima Technology Inc. Petre is also an adjunct professor at UNSW and a member of the UNSW Centre for Social Impact’s Advisory Council.
Kathryn Presser brings significant risk and governance expertise to the NRF Board, as well as finance and industry expertise. She is currently the chair of the South Australian Department of Treasury and Finance’s Risk and Performance Committee. Presser also holds several current non-executive director positions, including for the Australian Energy Market Operator, the Police Credit Union SA & NT, and Funds SA.
Karen Smith-Pomeroy is currently chair of the Regional Investment Corporation and the National Affordable Housing Consortium. She is also a non-executive director of Kina Securities Ltd, Stanwell Corporation Ltd, and Queensland Treasury Corporation Capital Markets Board.
Daniel Walton is a respected director and former senior union official with extensive professional expertise across workplace relations, manufacturing and the minerals and energy sectors. Walton is a director of AustralianSuper, has been co-chair of the NSW Renewable Energy Sector board, a member of the Commonwealth Agricultural Working Group and NSW State Government Minerals Industry Advisory Council. His position as secretary of the Australian Workers Union (AWU) ended in July.
NRF chair Martijn Wilder said, “I’m honoured to be asked to chair the NRF Board and begin the critical work of rebuilding our industrial capabilities and driving innovation.
“This is an experienced and capable board with the range of experience necessary to manage risk and drive decision making across the fund’s priority areas.”
Finance minister senator Katy Gallagher said the appointments marked an important step in implementing the government’s ‘Future Made in Australia’ agenda.
“The board members announced today will be key to ensuring that we, as a nation, grasp the opportunities before us to diversify and transform the Australian economy,” Gallagher said.
